New to bitcoin entirely

[DeLySiD]

I have been aware of bitcoin and have been wanting to acquire some for years, but up until now I haven't had any necessity. Now that I have that necessity, and urgency, I feel like I'm so far behind on it that I'm overwhelmed and lack the confidence to just jump right into it. At one point, I was literally going to pay someone to do all of the work for me because I was too nervous to do it myself. The idea of screwing up some minor detail and losing my money scares the piss out of me, because that's my sort of luck. But it's better that I just do it myself because, really, who am I going to trust with my money if not myself? But I really could use some sort of guidance to help me better understand.

I would like to possibly practice with a few small tansactions to get the feel for it if anyone could possibly help me out here. I am working from my phone, so if anyone has any good advice or helpful little tips for doing it all by phone, it would surely help.

Also which wallets are considered best/easiest to use for android specifically? I have downloaded a few different ones but I still havent decided which one I plan to use.

Im also only able to purchase bitcoin through debit/prepaid card -possibly paypal etc.- and would like to know which sources are best and cheapest with this payment method. Im not worried about my privacy when it comes to acquiring bitcoin at the moment, just trying to better understand the basic function to acquire for now.

[Decoded]

If you're up for the challenge, I'll be happy to help you out.

Bitcoin is extremely simple once you understand the basics of how it works. You don't even need to know any code.

My recommendation is either to use Greenbits or Mycelium. They are both outstanding Bitcoin wallets.

Greenbits is slightly more secure, because it uses multisignature technology, where you hold one private key, the Greenbits server holds another private key, and the last private key is held by either a third party, or you as a backup. This is one you need to keep extremely safe, like printing it out and hiding it. The reason this is so safe is because if a hacker hacked your phone, they would only be able to get one private key, and they need two to spend your money.

[DeLySiD]

Yeah, I got mycelium and Im liking how easy it seems to use.

And yes, I can use all of the help I can get at the moment.

[bitkilo]

If you want to send a couple of transactions back and learn about bitcoin then you can trust Decoded, his a helpful member.

While waiting for him to reply you may want to check out his post history, he has posted many great tutorials for newbies in the past.

[DeLySiD]

Well that is very reassuring to know that you can vouch for him and he has a history here.

I should not have waited so long to seek help for this.

[Westernory]

I suggest that you go here: https://buy.bitcoin.com/ to buy your bitcoin. Fast and efficient, no ID involved.

Good luck with your bitcoin journey!

[DeLySiD]

About how much of a bitcoin should I expect to get for 340 USD? Considering that I am paying by debit.

Thats my main hangup right now is finding a reliably decent price for it when trying to use debit. I have no idea if I'm getting a decent deal or not. I'm very limited on funds at the moment and I have to ensure Im going to be able to purchase what I need.

[Decoded]

About how much of a bitcoin should I expect to get for 340 USD? Considering that I am paying by debit.

Thats my main hangup right now is finding a reliably decent price for it when trying to use debit. I have no idea if I'm getting a decent deal or not. I'm very limited on funds at the moment and I have to ensure Im going to be able to purchase what I need.

A good place to find the current value of bitcoin is Preev. I'm currently working on a price calculator that performs better, bit it'll have to wait

At the moment, you will get around 0.3575 BTC for $340 USD. Currently we are on a little price spike, so you can take a gamble and invest, and it may go up even further, or wait a day or two and buy when it drops back down to $930. Defenitely buy before New Year though, it'll spike yet again.

One problem is that you're using PayPal. Since it's refundable, not many people want to accept it. You may not get the best rates. If you can pay directly through debit card, you could get a slightly better rate, but my recommendation for PayPal is Virwox. Not sure of their fees, but the site is trustable.

[Rmcdermott927]

I have been aware of bitcoin and have been wanting to acquire some for years, but up until now I haven't had any necessity. Now that I have that necessity, and urgency, I feel like I'm so far behind on it that I'm overwhelmed and lack the confidence to just jump right into it. At one point, I was literally going to pay someone to do all of the work for me because I was too nervous to do it myself. The idea of screwing up some minor detail and losing my money scares the piss out of me, because that's my sort of luck. But it's better that I just do it myself because, really, who am I going to trust with my money if not myself? But I really could use some sort of guidance to help me better understand.

I would like to possibly practice with a few small tansactions to get the feel for it if anyone could possibly help me out here. I am working from my phone, so if anyone has any good advice or helpful little tips for doing it all by phone, it would surely help.

Also which wallets are considered best/easiest to use for android specifically? I have downloaded a few different ones but I still havent decided which one I plan to use.

Im also only able to purchase bitcoin through debit/prepaid card -possibly paypal etc.- and would like to know which sources are best and cheapest with this payment method. Im not worried about my privacy when it comes to acquiring bitcoin at the moment, just trying to better understand the basic function to acquire for now.

Blockchain.info has an android wallet and would be fine for transacting in small amounts. You would likely want a more secure desktop alternative for larger amounts or even cold storage beyond that.

[DeLySiD]

Yeah this is all going to flow fairly quick once I put in the full amount of my funds into bitcoin. Just a one-time simple and quick transaction for now. Probably have the bitcoins for a total of maybe 5 or 10 minutes, hopefully. Preferably trying to get this done today if at all possible. I have limited time on a sale right now.

I can pay directly by debit if there is a source that allows that option.

My main concern as of the moment is finding that perfect source that isnt going to up-charge too much. I need to ensure that whatever I get is going to equate to 430 CAD = 317 USD.

So far the offers I have seen have been like .13 bitcoin for the amount I have and the route Im going...that cant be right. Is there a better route I could go by using my debit card that would get a better deal?

[Decoded]

Hahaha, here's your chance. Bitcoin dipped down to $935 a couple of hours ago. I promise you, it wont be dropping this low very soon. I'd wager a decent amount on that.

[Hhampuz]

Welcome to the family!

Great that you have found bitcoin, and great that you want to learn.

As some others here have suggested there are some nice guides and some helpful community members, that would be the first suggestion from me as well.

On these forums no question is stupid if you want to learn, so feel free to just spray away with any questions you might have. I'll gladly help with the knowledge I have, as I know others would too.

Hope you have a great new year as well!

[DeLySiD]

Anyone familiar with bitquick?

So far that seems to be my most reliable option at the moment. My card doesnt seem to be of much use, so I am looking into how I can get bitcoin with cash.

[Possum577]

Welcome to Bitcoin!

Earning bitcoin isn't as difficult as many would have you believe.

However, while mining was a primary option years ago it's not become not at all profitable to try to mine coins. To mine successfully it requires a lot of scale (hundreds of machines) in a very efficient location/setup. The greatest cost to mining beyond the purchase of mining machines is the cost of electricity to run the 24/7. This cost almost always exceeds the amount of and value of bitcoin you can generate during a defined period of time.

With that said, there are other ways that you can earn bitcoin - PM me and i'll be happy to share some ideas with you!